AUDUSD Wave Analysis 3 December 2024

– AUDUSD reversed from strong support level 0.6450

– Likely to rise to resistance level 0.6530

AUDUSD currency pair recently reversed up from the strong support level 0.6450, which has been reversing the price from the start of August, as can be seen below.

The support level 0.6450 was further strengthened by the nearby lower daily and the weekly Bollinger Bands.

Given the bullish divergence on the daily Stochastic indicator, AUDUSD currency pair can be expected to rise to the next resistance level 0.6530 (former minor resistance from November).